FG To Increase VAT From 5 to 7.2 Percent

FG To Increase VAT From 5 to 7.2 Percent

12.9.2019

FG To Increase VAT From 5 to 7.2 Percent.

FG To Increase VAT From 5 to 7.2 Percent

Channels Television Updated September 11, 2019 The Federal Government has said that consultations will begin at all levels on the review of the Value Added Tax, (VAT) from 5 per cent to 7.2 per cent , just as it is ready to begin deductions to recover bailout funds given to states. This was disclosed by the Minister of Finance Zainab Ahmed, on Wednesday who spoke with State House correspondents after the maiden Federal Executive Council meeting presided over by President Muhammadu Buhari. “We will begin consultations and consultations will be at various levels in the country. So it includes consultations with the states, with the local governments, with the parliament as well as with the Nigerian public. For the VAT increase to take effect, there has to be an amendment to the VAT Act,” she said. READ ALSO: Federal, States, LGs Get N3,84trn FAAC In Six Months – NEITI Mrs Ahmed who spoke on the bailout funds issued to states by the Central Bank of Nigeria said it wasn’t a grant but that it was meant to be refunded. “It was not a grant to states by the Federal Government. The Central Bank has a responsibility to ensure that loans given act are paid. More on Business Read more: Channels Television

Reduce your salaries President Buhari's total emoluments stand at N14M* Vice President Osinbajo's total emoluments stand at N12M* Senators in Nigeria earn N36M* My humble suggestion is that President Buhari should slash his salary by 50% making it N7M and his VP becomes N6M

FG increases VAT to 7.2%.................................................Nigeria News - THE Federal Government has proposed an increase of the Valued Added Tax, VAT from five percent to seven point two percent.

FG approves N182 billion for rehabilitation of major roads - Daily Post NigeriaThe Federal Executive Council (FEC) presided over by President Muhammadu Buhari, on Wednesday approved about N182 billion for the construction and rehabili

FG, states, LG share N3.84tr in first half of 2019 – Daily TrustThe federal, states, local governments and others shared N3.84trn between January and June this year, data contained in the latest edition of NEITI Quarterly Review, showed. The data examined “FAAC Disbursements to the Federal, States and Local governments for the first half of 2019.”ADVERTISEMENT According to the data, during the same period, nine states representing …

S/Africa: FG begins evacuation of Nigerians tomorrow – Daily TrustThe Federal Government said it will on Wednesday start repatriating Nigerians from South Africa after a wave of xenophobic violence. President Muhammadu Buhari had given instruction for the immediate voluntary evacuation of all Nigerians who were willing to return home.ADVERTISEMENT Nigeria’s Consul General Godwin Adamu said in Johannesburg yesterday that Nigerian airline “Air Peace is …

Adopt HIV strategies on tackling cervical cancer, experts urge FG – Daily TrustIt is time the Federal Government replicated the same approach adopted in drastically reducing the prevalence of Human Immunodeficiency Virus (HIV) to the raging problem of cervical cancer, experts have observed. The experts, who include gynaecologists, pathologists, oncologists, researchers and advocates made the call during the cervical cancer conference at the Lagos University Teaching Hospital …

JUST IN: Minimum wage: FG, labour to meet Sept. 16Negotiation between the Federal Government and the Joint National Public Service Negotiating Council (JNPSNC) on the new minimum wage



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